Topic: [Poll] Is there BitFunder going to shutdown suddenly ? (Read 1973 times)

FTFY.

These panic threads are pretty redundant. Have a read.

Yes, its going to shut down just like any other site. What makes you think that the government would let it escape.

Well it's certainly problematic if Ukyo is in the US.  Aside from anything else there's the issue of his own security (the loan) which apparently he lacks the ability to buy back per contract terms but as a US citizen himself he has to ban himself from trading at the same time as he bans all other US residents.  Will be interesting to see how that pans out : most obvious solution being that he redefines it as a non-tradable loan managed off-exchange (where there IS some wriggle-room if it's not transferrable) but defaults on following his own contract (specifically the part defining the right to redemption).

Those paying attention would have noticed that DMS (mandated only to invest in 'secure' investments) decided the loan wasn't safe precisely because of this sort of scenario.  Specifically that it claimed to be secured but never identified assets backing the loan - only the income stream from Bitfunder.  Which made the loan inherently bad value due to there being a massive downside if Bitfunder hit problems - but no matching upside if Bitfunder did well.

Put another way, if Bitfunder did very well then 'lenders' had no right to a fair share of profits - but if Bitfunder had major issues lenders ended up exposed to default (and failure to redeem as promised in the contract IS default) due to no other source of backing being identified.  That made it, effectively, a one-sided proposition - where the upside was heavily limited but the downside was uncapped.  The equation is even more unbalanced if a high value is placed on liquidity (as was the case when evaluating it on behalf of DMS) - as lack of liquidity on the market was always likely to be accompanied by lack of liquidity from the issuer here, so both sources of liquidity would tend to vanish at the same time.

It just got me thinking, does restricting only to non-US resident really work on avoiding close down?

http://bitbet.us/bet/554/bitfunder-will-close-before-july-of-2014/

Bet: BitFunder will close before July of 2014 -

The bet resolves as YES if BitFunder discontinues operation (stops allowing signup for new members altogether and/or disables BTC withdrawal either explicitly or as sufficiently reported by at least five community members) before July 1st 2014

QG

I hope I'm having a case of the morning missed sarcasms. 

Anyway the money-where-there-mouths-are crowd is leaning towards no so far.

With the recent silk road fiasco coming to a close and the price remaining stable, it's quite likely that we will see a crackdown on some unregulated exchanges and maybe gambling sites.

I'm counting (hoping) on that!

Only if the government do something, I think they will only have restrictions and not close down.

a very very good news for bf

Probably it's on auto-renew.

Has been upgraded!
   Domain Name: BITFUNDER.COM
   Registrar: ENOM, INC.
   Whois Server: whois.enom.com
   Referral URL: http://www.enom.com
   Name Server: EMMA.NS.CLOUDFLARE.COM
   Name Server: JAKE.NS.CLOUDFLARE.COM
   Status: clientTransferProhibited
   Updated Date: 11-oct-2013
   Creation Date: 11-oct-2012
   Expiration Date: 11-oct-2014

Ja, the irony.

   Domain Name: BITFUNDER.COM
   Registrar: ENOM, INC.
   Whois Server: whois.enom.com
   Referral URL: http://www.enom.com
   Name Server: EMMA.NS.CLOUDFLARE.COM
   Name Server: JAKE.NS.CLOUDFLARE.COM
   Status: clientTransferProhibited
   Updated Date: 10-sep-2013
   Creation Date: 11-oct-2012
   Expiration Date: 11-oct-2013

Just this:

Did I miss anything new ?